Gold remains bullish in spite of yesterday's red day
In my yesterday's analysis, I said that the structure for Gold is bullish and it will remain so as long as the price stays above the 1720 zone support.
From an intraday perspective, Gold closed yesterday into the red, however, this does not change the overall structure one bit.
More, on the short-term posted chart we can see that yesterday's low is in fact a higher low relative to last week's one and, we have a clear short-term resistance at the 1760 zone with the price pressing into it.
I expect a break above this resistance which would give scope to a test of 1785 high.
The trading strategy for Gold should be the same, buy dips against 1720
From an intraday perspective, Gold closed yesterday into the red, however, this does not change the overall structure one bit.
More, on the short-term posted chart we can see that yesterday's low is in fact a higher low relative to last week's one and, we have a clear short-term resistance at the 1760 zone with the price pressing into it.
I expect a break above this resistance which would give scope to a test of 1785 high.
The trading strategy for Gold should be the same, buy dips against 1720
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